New Delhi, October 5, 2026: Swiss Confederation President Guy Parmelin has arrived in New Delhi for a three-day State visit to India, with trade, investment, technology, innovation, mobility and economic cooperation at the centre of discussions with Indian leadership. The visit runs from October 5 to 7 and comes at an important moment for India-Switzerland economic relations. DD India
Parmelin received a ceremonial welcome at Rashtrapati Bhavan on Monday in the presence of President Droupadi Murmu and Prime Minister Narendra Modi. During the visit, Parmelin is scheduled to meet both leaders, while External Affairs Minister S. Jaishankar is also holding discussions with the Swiss President. DD India
The timing of the visit is particularly significant because it coincides with the first anniversary of the India-EFTA Trade and Economic Partnership Agreement (TEPA), which came into force on October 1, 2025. EFTA comprises Switzerland, Norway, Iceland and Liechtenstein. Parmelin will participate in the second India-EFTA Prosperity Summit on October 7, where government and business representatives are expected to discuss investment and cooperation opportunities. BABS
A major economic relationship
Switzerland is currently India’s largest trade and investment partner within EFTA, making the visit particularly important from an economic perspective. More than 330 Swiss companies operate in India, while cooperation between the two countries extends beyond trade into science, research, education and innovation. BABS
The TEPA agreement itself is ambitious. EFTA countries have committed to facilitating $100 billion in investment in India over 15 years, with the broader objective of creating employment and strengthening long-term economic cooperation. Business Standard
However, the first year of the agreement has not been without challenges. India’s exports to the EFTA bloc have declined, while imports—particularly gold from Switzerland—have increased. Indian and EFTA officials are therefore expected to examine market-access issues, regulatory barriers and ways to translate the agreement into stronger two-way trade and investment. Business Standard
Beyond trade
The discussions are not limited to economics. India and Switzerland are expected to explore cooperation in science and technology, innovation, education, research, migration and mobility. Regional and global developments, as well as cooperation through multilateral institutions, are also part of the agenda. BABS
Parmelin’s delegation includes senior government officials and business leaders, signalling that the visit is intended to produce practical economic and commercial outcomes rather than being purely diplomatic. On October 6, the Swiss President’s programme includes a visit to Noida International Airport, operated by a subsidiary of Zurich Airport, along with meetings connected to business and scientific cooperation. BABS
The visit also has a personal political significance for Parmelin. He announced recently that he will leave Switzerland’s Federal Council at the end of 2026, meaning this is among his final major overseas engagements in his current role. Reuters
For India, meanwhile, the visit comes as New Delhi continues to deepen economic relationships with European partners. The India-EFTA partnership is particularly notable because it combines trade access with a major investment commitment, making it different from a conventional tariff-focused trade agreement.
The two countries are also approaching another diplomatic milestone: India and Switzerland will mark 80 years of diplomatic relations in 2028.
